Monday, September 22, 2008

Get the skinny on the scam

There are plenty of sane voices weighing in on the Great American Swindle still unfolding as of this writing. Richard of American Leftist had this to say yesterday:
Excellent coverage of the proposed bailout of the US financial system over at Counterpunch, with submissions by Michael Hudson, Pam Martens, Lila Rajiva, Mike Whitney, Richard Rhames and, of course, Alexander Cockburn. Such prompt left coverage of breaking events is one of the reasons that I donate to support the operation of that website. Anxiety has even infected one of the columnists at the Washington Post, with Sebastian Mallaby complaining that there are superior alternatives that would protect the interests of taxpayers.

Proposed legislation in its current preliminary form indicates that the same processes of secrecy that have been developed for the Pentagon and the intelligence services are about to be extended to governmental involvement in the financial markets. Apparently, the lessons learned from the collapse of the NASDAQ bubble, the need for public transparency and accountability, have been totally abandoned in the belief that covert dealings between the Treasury, the Federal Reserve and the world's major financial institutions is a more effective way of dealing with the crisis. Crony capitalism over Adam Smith, in other words.

Don't expect the Democrats in Congress to stop it. Faced with an election in less than two months, they will do as they did with the authorization for the Iraq War in October 2002, give a Republican President what he wants in the hope that they will prevail on other issues. As then, they will not take the risk of being blamed for a crisis because they have refused to immediately pass legislation demanded by the President. And, of course, there's the dirty secret that they someday expect to be in control of the White House, and want such powers for themselves, to exercise for the benefit of interests associated with them.

Make sure to read the follow-up as well. Call it a coup, call it armed robbery, call it the ruling class doing what it knows how to do all too well, call it yet another reiteration of the shock doctrine - it pretty much amounts to the same thing. Oh, and with the Hoovervilles making their return appearance, don't be too surprised to see another presence: armed military personnel (probably augmented with a contingent of mercenaries) with a simple assignment - shoot to kill ("I'm from the government and I'm here to help - now bleed for me.").



The lyrics to "Bleed For Me" from Plastic Surgery Disasters:
You’ve been hanging ‘round / With an enemy of the state / Come with me to the building / That no one stops to watch / Chorus: C’mon bleed / C’mon bleed / C’mon bleed / Bleed for me / We’ll strap you to a pipe / Electrodes on your balls / C’mon scream / C’mon writhe / Face down in a pool of piss / (Chorus) / In the name of world peace / In the name of world profits / America pumps up our secret police / America wants fuel / To get it, it needs puppets / So what’s ten million dead / If it’s keeping out the Russians / We’re well trained by the CIA / With yankee tax money in Ft. Bragg / The Peace Corps builds US labor camps / When they think they’re building schools / Ha Ha / When cowboy Ronnie comes to town / Forks out his tongue at human rights / Sit down, enjoy our ethnic meal / Dine on some charbroiled nuns / Try a medal on / Smile at the mirror as the cameras click / And make big business happy - / Anytime / Anywhere / Maybe you’ll just disappear / (Chorus)

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